The company is in talks with shareholder Standard General over ways to raise cash. RadioShack is looking for investors that will help the retailer’s turnaround plan which includes closing down stores and revamping others.
The company is in dire need of investors as the company only has $62 million in cash. RadioShack lost $98.3 million in the three months ending May 3 and could run out of cash as soon as next year.
Standard General is also looking at ways to help RadioShack refinance its $250 million loan, helping the company close a large number of stores that are costing the retailer millions.
RSH stock is up close to 38% Thursday afternoon.
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